Most American economists would probably say that this is impossible and would inevitably cause wide-spread unemployment
Actually most economists from all over the world would agree that minimum wages do not improve economic conditions. The consensus is that a minimum wage has one of two effects: either it does nothing, because the actual minimum wage determined by the markets are higher, or if the minimum wage determined by the market is lower, it prevents job creation.
Your account in this article suggests that the former situation is the case in Austra... (read more)
Actually most economists from all over the world would agree that minimum wages do not improve economic conditions. The consensus is that a minimum wage has one of two effects: either it does nothing, because the actual minimum wage determined by the markets are higher, or if the minimum wage determined by the market is lower, it prevents job creation.
Your account in this article suggests that the former situation is the case in Austra... (read more)